E-commerce retailer JD.com to spin off health unit, list in Hong Kong

A sign of China's e-commerce company JD.com is seen at CES (Consumer Electronics Show) Asia 2016 in Shanghai, China, May 12, 2016. REUTERS/Aly Song/File Photo

Chinese e-commerce retailer JD.com is planning to spin off its health unit and list it on the Hong Kong stock exchange, the New York-listed company said on Monday, a move that follows escalating Sino-U.S. political tensions.

Several Chinese companies are putting off plans for U.S. listings amid mounting tensions between the world’s top two economies, while those listed in New York are seeking to return to exchanges closer to home.

JD.com, which is listed on the Nasdaq in New York, raised about $3.87 billion in its Hong Kong secondary listing earlier this year.

Its U.S.-listed shares fell nearly 2% in premarket trading following Monday’s announcement.

JD.com said the timing of divestiture and unit listing will depend on market conditions, and there is no assurance as to whether the process will be completed.

Hong Kong Exchanges and Clearing Ltd said last month a trend of secondary listings by New York-listed Chinese companies would bolster its prospects.

E-commerce giant Alibaba completed its secondary listing in Hong Kong last year. Other companies including travel firm Ctrip and Baidu were considering Hong Kong listings, Reuters reported earlier this year.

Reuters

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.